Davies has elided the image of the folks trying to get a vaccine. But their success at that must have had some influence on the buying craze. That and realizing after a whole year of living in an apartment, that IT’S TIME TO MOVE! NOW!
It’s so bad in parts of Florida that builders are increasing prices above the market analysis in an attempt to slow demand. Their idea is that they can spread out the buying for future income, and keep up a normal demand pace.
Sounds crazy but it does frustrate the buyers who are at their max. Those who can afford over market just perpetuate the frenzy.
I am retired from real estate but it is one of the strangest patterns which is typically boom or bust. We could get about 25% more than a couple of years ago but then have the buyers’ problem. Where can you go and how much more will you have to pay using a lot of the excess you got on your sale.
Landlords can make a killing if they want to reduce their inventory. If there is big enough of a rental market then they of course just raise the rent.
Purchased a 3 bedroom, 1 bath, 1300 sq ft ranch style house w/ 2 car garage in 1988 for $45k in 1988. Paid off years ago. Now the county tax assessor says the fair mkt value is $335k. I’m hounded with postcards & robocalls with offers to purchase my home. . . sight unseen . . blah, blah, blah . . cash in as little as a day or two . . .
I handled some foreclosures for a billon dollar company years ago after the George Dubya Bush Great Depression caused by the Real Estate Market Crash with adjustable rate mortgages and no money down. Somebody is looking to profit on the misery of others who are in trouble. Wonder how much the rubes paid to do the dirty work of sending out the postcards, etc. in hope of cashing in for a percentage later.
Pickled Pete about 3 years ago
Heard a real estate commercial on the radio this morning that they guarantee sale of your home within 24 hrs.
gigagrouch about 3 years ago
The realtors in my area are so hungry that they’re going door-to-door looking for listings…
cracker65 about 3 years ago
The wife and I have talked about selling ours, but I don’t see it happening
Concretionist about 3 years ago
Davies has elided the image of the folks trying to get a vaccine. But their success at that must have had some influence on the buying craze. That and realizing after a whole year of living in an apartment, that IT’S TIME TO MOVE! NOW!
BeniHanna6 Premium Member about 3 years ago
Mr. Davies forgot to put on the sign, “in red states”. Definitely not in CA, NY, or IL.
admiree2 about 3 years ago
It’s so bad in parts of Florida that builders are increasing prices above the market analysis in an attempt to slow demand. Their idea is that they can spread out the buying for future income, and keep up a normal demand pace.
Sounds crazy but it does frustrate the buyers who are at their max. Those who can afford over market just perpetuate the frenzy.
I am retired from real estate but it is one of the strangest patterns which is typically boom or bust. We could get about 25% more than a couple of years ago but then have the buyers’ problem. Where can you go and how much more will you have to pay using a lot of the excess you got on your sale.
Landlords can make a killing if they want to reduce their inventory. If there is big enough of a rental market then they of course just raise the rent.
The Love of Money is . . . about 3 years ago
Purchased a 3 bedroom, 1 bath, 1300 sq ft ranch style house w/ 2 car garage in 1988 for $45k in 1988. Paid off years ago. Now the county tax assessor says the fair mkt value is $335k. I’m hounded with postcards & robocalls with offers to purchase my home. . . sight unseen . . blah, blah, blah . . cash in as little as a day or two . . .
I handled some foreclosures for a billon dollar company years ago after the George Dubya Bush Great Depression caused by the Real Estate Market Crash with adjustable rate mortgages and no money down. Somebody is looking to profit on the misery of others who are in trouble. Wonder how much the rubes paid to do the dirty work of sending out the postcards, etc. in hope of cashing in for a percentage later.